FG considering excise duties tax for soft drinks

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The Federal Government is mulling over introducing excise duties on soft drinks and carbonated drinks.

The plan was revealed by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed in an interview with newsmen on Thursday on the sidelines of the ongoing World Bank/IMF Annual Meetings in Washington DC, United States.

Ahmed said the idea was one of the other areas, besides the proposed increase in VAT, that the government was looking at to broaden its revenue base.

Her word: “So in expanding the revenue base, we have proposed the increase of VAT but there are also other revenue streams that we are looking at and some of them include the introduction of excise duties on carbonated drinks but there is a process to doing these things.”

 

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